As a fully developed global financial centre, Singapore must tread more gingerly now, since it's much more susceptible to the vagaries of the international financial markets.

PHOTO: AFP

ACCORDING to the 2016 update of the Global Financial Centres Index (GFCI) compiled by the London- based research firm Z/Yen Group, Singapore is ranked third out of 86 global financial centres after London and New York, and marginally ahead of Hong Kong.